Regarding repeated public statements that Lamda Development ("the Company") could immediately begin the development of the Hellinikon project, and in order not to create misperceptions to the general public, the following should be clarified:

These statements do not take into consideration neither the general legislation nor the contractual preconditions, as they arise from the contracts between the Company and the State. The development of the Hellinikon project will commence with the fulfillment of all contractual pending terms, which are a prerequisite for the transfer of the "Hellinikon S.A." shares from the State to the Company.